MAERSK and COSCO has announced a price increase in July!

Due to various factors such as rising demand, the Red Sea situation, and port congestion, shipping prices have continued to rise since early June.

Leading shipping companies like Maersk and COSCO have successively announced the latest peak season surcharges and price increase notices, impacting routes to the United States, Europe, Africa, the Middle East, and more. Some shipping companies have even issued rate adjustment notices effective from July 1st.

MAERSK Announces

Peak Season Surcharge on Multiple Routes

Maersk will implement a Peak Season Surcharge (PSS) on dry and refrigerated containers from East China ports to Sihanoukville, effective June 6, 2024. The surcharge details are as follows:

Maersk will increase the PSS from China, Hong Kong, and Taiwan to Angola, Cameroon, Congo, Democratic Republic of Congo, Equatorial Guinea, Gabon, Namibia, Central African Republic, and Chad. This will be effective from June 10, 2024, and from Taiwan on June 23, 2024. The surcharge details are as follows:

Maersk will impose a Peak Season Surcharge (PSS) on the A2S and N2S trade routes from China to Australia, Papua New Guinea, and the Solomon Islands, effective June 12, 2024. The specific surcharge rates are as follows:

COSCO Announces

Increased FAK (Freight All Kinds) rates from Far East Asia to North America

As the shipping market faces another round of high freight rates and container shortages, it’s best for shippers to secure bookings for cargo shipments as early as possible to ensure availability of space.

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